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Public Hearing - Resolution to Vacate a Portion of <br />Bristol Street at 815 North Bristol Street <br />December 17, 2019 <br />Page 2 <br />BACKGROUND <br />On November 21, 2017, the City Council approved a purchase and sale agreement with In-N-Out <br />Burgers, a California Corporation, for the sale of vacant parcels located at 827, 829, and 907 North <br />Bristol Street, which are directly north of the right of way to be vacated, for the appraised value of <br />$905,000. These remnant parcels became available upon completion of the Bristol Improvements. <br />The negotiation of the sale of the properties was contingent on a redesign of the restaurant's site plan <br />and mitigating the drive-thru traffic spill -over issues. On May 28, 2019, the City's Planning Commission <br />approved the project site plan, which includes tripling the drive-thru stacking capacity and meets the <br />site vehicular demands. Through this transaction, the City has retained a valued business while also <br />recovering grant funding, which was used to acquire these parcels for the Bristol Improvements. <br />STRATEGIC PLAN ALIGNMENT <br />This item supports the City's efforts to meet Goal #3 - Economic Development, Objective #2 (Create <br />new opportunities for business/job growth and encourage private development through new <br />General Plan and Zoning Ordinance policies). <br />FISCAL IMPACT <br />Land sale proceeds in the amount of $2,500 will be received into the Select Street Construction <br />Fund, Sale of Land Account (No. 05917002-57071). <br />Fuad S. Sweiss, PE, <br />Executive Director <br />Public Works Agency <br />W�yu&y51aTITcHrl:i <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br />PLS Kathryn Downs, CPA <br />Executive Director <br />Finance and Management Services Agency <br />Exhibits: 1. Street Vacation Area Map <br />2. Resolution <br />75A-2 <br />